XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset may reverse in the form of a new ascending impulse. In this case, the upside correctional target may be at 1685.00. At the same time, the opposite scenario implies that the price may fall to reach 1645.50 without any pullbacks.
NZDUSD, “New Zealand vs US Dollar”
As we can see in the H4 chart, NZDUSD has formed a Hammer reversal pattern close to the support level. At the moment, the asset is reversing in the form of another ascending wave. In this case, the upside correctional target may be at 0.5940. After that, the asset may rebound from the resistance area and resume moving downwards. However, an alternative scenario implies that the price may fall to reach 0.5850 without any pullbacks.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has formed another Hammer reversal pattern near the support level. At the moment, the pair may reverse in the form of a new rising impulse. In this case, the upside target may be the resistance area at 1.1440. Later, the market may rebound from this level and resume falling. Still, there might be an alternative scenario, in which the asset may continue falling to reach the support level at 1.1300 without testing the resistance area.
Source: Roboforex
